CEO John Cryan said at the time: “Our results for the year 2016 were heavily impacted by decisive management action taken to improve and modernise the bank, as well as by market turbulence for Deutsche Bank.”

2016 presented the firm with unique problems. Cryan has tried to simplify the business, cut costs, and reduce litigation and fines from poor conduct, as part of a plan started in October 2015. But the bank has seen its profit margins cut by low central bank interest rates and tough capital rules.

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